In September 2021, the consumer confidence index rose from 116.2 to 119.6. The improvement was particularly evident in the economic climate that surged, in fact, from 132.4 to 143.6. However, the other index components also increased: the current one rose from 112.0 to 116.1, the future one improved from 122.5 to 124.7 and, finally, the personal one bettered from 110.8 to 111.5.
As for the business confidence climate, the index (IESI, Istat Economic Sentiment Indicator) slipped from 114.0 to 113.8.
The confidence index in manufacturing diminished from 113.2 to 113.0. Compared to the previous month, respondents gave less positive assessments on the order books and less favourable expectations on the future production (the balance of the variables eased from 6.4 to 6.2 and from 15.6 to 15.1, respectively). Finally, they judged in slight contraction the level of inventories (the related balance passed from -0.8 to -1.1).
The confidence index in construction rose from 153.8 to 155.5. More specifically, the balance of assessments on order books/construction recovered from -4.0 to -2.3, while the one of expectations for employment progressed from 7.2 to 7.7.
The market services confidence index improved from 111.8 to 112.3. Firms gave more negative assessments both on the order books and the business trend (the balances of the variables diminished from 18.6 to 17.1 and from 19.1 to 17.7, respectively), but on the contrary revised up their expectations for the future order books (the related balance in fact rose from 10.1 to 14.6).
The retail trade confidence index went down from 113.6 to 106.8. Widespread pessimism emerged both from the opinions on current business activity and the expectations for the future trend in sales. Finally, the volume of inventories was considered to have increased (the related balances varied from 17.5 to 8.4, from 32.5 to 23.0 and from 1.2 to 3.5, respectively). The deterioration in confidence did not characterise both distribution channels: the index clearly dropped in the large scale distribution (from 118.5 to 109.3), but it showed a slight improvement in the small and medium scale one (from 101.9 to 102.3).